Celtic have released a trading update to the London Stock Exchange today following the announcement that the club are 2019/20 Scottish Premiership champions.
The Hoops were due to play a further eight games in the top-flight and have officially recognised the absence of these matches will have an impact on the finances of the club.
However, today’s statement to the stock exchange is optimistic.
In a section titled ‘Funding and liquidity’, the club said: “Whilst today’s decision will have a short-term impact on the finances of the Club, Celtic remains in a strong financial position through its robust balance sheet in terms of player registrations and deferred transfer receivables.
“The Board has continued to take the appropriate steps to manage its capital, other expenditure and improve cash flow, to ensure the business continues to be well capitalised and has sufficient liquidity during this period of uncertainty.
“Measures include the Club’s Chief Executive, Manager, Non-executive Directors, first-team squad, executive team, and backroom staff, including Academy and Football Operation executives, volunteering to take significant reductions in salaries as well as making deferrals on a significant proportion of earnings.”
Not a single football club will come through the current crisis unscathed.
With Celtic already reducing salaries and implementing the government furlough scheme, the powers that be at Celtic Park have taken all of this very seriously from the beginning.
That prudence, combined with positive financial results in years past, should see us cope with what’s ahead better than many others around us.
What it means for transfers and new contracts moving forward is less clear but it’s doubtful the club will do anything but field the best team in Scotland next season as we push for ten-in-a-row.
While times in wider society are uncertain and worrying right now, we can at least look forward to the Hoops returning one day in 2020 and competing for more trophies.